John B. Taylor

George P. Shultz Senior Fellow in Economics
Awards and Honors:
American Academy of Arts and Sciences
Econometric Society (elected fellow)
Economics Distinguished Faculty Teaching Award
(2015)
Biography: 

John B. Taylor is the George P. Shultz Senior Fellow in Economics at the Hoover Institution and the Mary and Robert Raymond Professor of Economics at Stanford University. He chairs the Hoover Working Group on Economic Policy and is director of Stanford’s Introductory Economics Center.

Taylor's fields of expertise are monetary policy, fiscal policy, and international economics. His book Getting Off Track was one of the first on the financial crisis; his latest book, First Principles, for which he received the 2012 Hayek Prize, develops an economic plan to restore America’s prosperity.

Taylor served as senior economist on President Ford's and President Carter’s Council of Economic Advisers, as a member of President George H. W. Bush's Council of Economic Advisers, and as a senior economic adviser to Bob Dole’s presidential campaign, to George W. Bush’s presidential campaign in 2000, and to John McCain’s presidential campaign. He was a member of the Congressional Budget Office's Panel of Economic Advisers from 1995 to 2001. From 2001 to 2005, Taylor served as undersecretary of the Treasury for international affairs where he was responsible for currency markets, international development, for oversight of the International Monetary Fund and the World Bank, and for coordinating policy with the G-7 and G-20.

Taylor received the Bradley Prize from the Bradley Foundation and the Adam Smith Award as well as the Adolph G. Abramson Award from the National Association for Business Economics. He was awarded the Alexander Hamilton Award for his overall leadership at the US Treasury, the Treasury Distinguished Service Award for designing and implementing the currency reforms in Iraq, and the Medal of the Republic of Uruguay for his work in resolving the 2002 financial crisis. At Stanford he was awarded the George P. Shultz Distinguished Public Service Award, as well as the Hoagland Prize and the Rhodes Prize for excellence in undergraduate teaching. He is a fellow of the American Academy of Arts and Sciences and the Econometric Society; he formerly served as vice president of the American Economic Association.

Taylor received the 2016 Adam Smith Award from the Association of Private Enterprise Education and the 2015 Truman Medal for Economic Policy for extraordinary contribution to the formation and conduct of economic policy.

Taylor formerly held positions as professor of economics at Princeton University and Columbia University. Taylor received a BA in economics summa cum laude from Princeton University in 1968 and a PhD in economics from Stanford University in 1973.

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Recent Commentary

Analysis and Commentary

A Teachable Moment

by John B. Taylorvia Economics One (blog)
Monday, October 12, 2009

The awarding of the Nobel Prize in economics is always a teachable moment...

Analysis and Commentary

To Prevent Bubbles, Don’t Create Them

by John B. Taylorvia Economics One (blog)
Sunday, October 11, 2009

In their widely-cited Wall Street Journal column last week, Ian Bremmer and Nuriel Roubini argue that to prevent asset price bubbles in the future the Fed should focus on “properly calculating asset prices and the risk of asset bubbles according to the Taylor rule...

a cartoon

An Unclear and Present Danger

by Kenneth E. Scott, John B. Taylorvia Hoover Digest
Friday, October 9, 2009

Why are toxic assets so hard to clean up? Partly because they’re so hard to understand. By Kenneth E. Scott and John B. Taylor.

Analysis and Commentary

Taking Stock at the Fed

by John B. Taylorvia Economics One (blog)
Friday, October 9, 2009

Yesterday and today, three economists (Andrew Levin, Chris Erceg and Mike Kiley) who work on the staff of the Federal Reserve Board graciously hosted a big gathering of monetary economists from around the world...

Analysis and Commentary

The Price System in Action

by John B. Taylor with Russell Robertsvia Economics One (blog)
Tuesday, October 6, 2009

Want to understand what really goes on behind the scenes of the supply and demand model?...

Analysis and Commentary

A Beautiful Model, A Clear Prediction

by John B. Taylorvia Economics One (blog)
Friday, October 2, 2009

The supply and demand model, which students learn in the first week of Economics One, is a beautiful, powerful tool for investigating real world issues like the minimun wage, the subject of tomorrow's Wall Street Journal editorial...

Analysis and Commentary

The Best Economics 1 Lecturer Ever

by John B. Taylorvia Economics One (blog)
Monday, September 28, 2009

I decided to invite a young guest lecturer to my Economics 1 class to help students think about the alarming federal debt charts and the exploding debt burden on future generations...

Analysis and Commentary

The Real Anniversary

by John B. Taylorvia Economics One (blog)
Saturday, September 26, 2009

Two weekends ago the big news was the one-year anniversary of the Lehman Brothers bankruptcy and the ensuing panic...

In the News

Should the G-20 Reconsider the Decision to Treble IMF Resources

by John B. Taylorvia Hoover Daily Report
Thursday, September 24, 2009

At their last meeting on April 2, 2009, in London, the leaders of the G-20 nations agreed "to treble the resources available to the International Monetary Fund (IMF) to $750 billion."...

Analysis and Commentary

The Crisis: A Failure or a Vindication of Economics?

by John B. Taylorvia Economics One (blog)
Monday, September 21, 2009

Today was the first lecture of thirty-five or so lectures I will give this fall in Stanford’s Economics 1, the namesake of this Blog...

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